UNSMIL called on all relevant authorities in Libya to work toward an agreement on a unified budget without delay, saying it had taken note of the statement issued by the Central Bank of Libya (CBL) Board of Directors following its first meeting in 2025 and underscored the urgent need for consensus on a balanced, unified budget.
"A transparent and equitable budget is crucial for strengthening fiscal responsibility, optimising resource allocation, and ensuring economic stability in Libya. A unified budget would also enhance the CBL’s ability to implement effective monetary policies, stabilise the exchange rate, and manage public spending sustainably." UNSMIL said.
The Central Bank said in a statement following the first meeting of its Board of Directors that there was a need to expedite the approval of a unified balanced budget for the year 2025, as well as the periodic transfer of oil revenues.
The statement also urged for coordination between economic policies, including financial and commercial ones, and activating the tools that enable it to achieve its goals, in addition to enhancing the principles of transparency and disclosure and the independence of the Central Bank.
It called for the importance of the professionalism of its decisions in everything related to the path of exchange rate policy and monetary policy to ensure the achievement of monetary stability and financial sustainability of the state.
